Online Sports Betting Tax Rise Approved in Maryland
Maryland Governor Wes Moore has signed the Budget Reconciliation and Financing Act of 2025 into law, increasing the tax rate for online sportsbooks from 15% to 20%. This modification is aimed at addressing the state's budget deficit.
Under the new legislation, the state's schools will receive 95% of the generated tax revenue, with the remaining 5% going into Maryland's general fund. The revenue is intended to support educational initiatives outlined in the Blueprint for Maryland’s Future Fund.
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[1] Budget Reconciliation and Financing Act of 2025[2] Blueprint for Maryland’s Future Fund
- The Budget Reconciliation and Financing Act of 2025 includes an increase in the tax rate for online sportsbooks, such as sports-betting platforms, from 15% to 20%.
- Michael Savio, a journalist known for his expertise in the US online casino industry, frequently covers topics like sports betting, mobile sports wagering, and industry news.
- As schools in Maryland are expected to receive a significant portion of the generated tax revenue from the increased sports betting tax, the Blueprint for Maryland’s Future Fund may receive additional support.
